US-based subsidiaries of Credit Suisse and Deutsche Bank are among the stakeholders of Pingtan Marine Enterprise, a tuna and seafood fishing company. It was recently blacklisted by the US...
Trade
EUR Continues Gaining Strength Against Dollar
The euro has continued gaining momentum and has strengthened its position since November. Currently, EUR 1 is USD 1.06, resulting in European tuna buyers having more purchasing power right...
Canned Tuna Wallet-Friendly In US Consumer Market Amidst Inflation
The high prices of fresh and frozen seafood are yet another reason for Americans to switch to canned tuna – the most sought-after seafood in the US. Shelf-stable seafood sales continued to...
Food Staples Remain High For Europeans & Americans
Annual inflation in the EU markets has declined but only slightly, with food and energy prices contributing to the continuous lofty inflation figures. Canned tuna producers are spending more...
Ex-COS Employee Alleges Wrongful Termination For Whistleblowing
A former Chicken of the Sea HR employee has accused the tuna company of unlawfully firing her for being a whistleblower. She alleged that COS has been misappropriating premium payments from...
TU Retains Top Spot In Dow Jones Sustainability Index
The Thai Union Group PCL. has been ranked number one in the global food industry on the Dow Jones Sustainability Index. The company has been listed for a ninth consecutive year in this list...
Japanese Fear No Tuna On Their Year-End Menu
The price for bluefin at Japan’s Toyosu fish market is rising rapidly as fewer domestic caught fish are being landed. Only 220 whole-round bluefin were auctioned in the first nine days of...
Seiner Operators Looking At Low Fuel Price But Crude Supply Issue On The Horizon
Major global economies under the G7 group and its allies like the EU, recently agreed on a USD 60 price cap per barrel of Russian crude oil as a sanction to squeeze revenue from the country’s...
I-Tail Debut Raises USD 606 Million From Its IPO
Thai Union-owned i-Tail Corporation Pcl., has made a successful debut in the stock market. The pet food producing subsidiary raised THB 21.1 billion (USD 606 million) after selling its 660...
Gomes Da Costa Unveils New Packaging For Its Premium Products
Brazilian canned tuna brand Gomes da Costa has relaunched its premium tuna packaging, developed in black and golden tones. The marketing strategy aims to reinforce sophistication and...
Thai Union Wants To Make Red Lobster A “Strong Business Pillar” Despite Losses
The global economy is reviving after the Covid-19 pandemic, and the ongoing Ukraine-Russia war has greatly impacted interest rates and runaway inflation. The multi-billion-dollar seafood...
Former Mozambican President’s Son Sentenced 12 Years In Tuna Bonds Scandal
The long-running case over the biggest graft scandal in Mozambique for over USD 2 billion worth of hidden debts including USD 850 million in tuna bonds has ended. A federal judge in Maputo has...
Dongwon Partners With Korean Automobile Giants To Recycle Fishing Nets
Dongwon has announced its partnership with Hyundai Motor Company and Kia Motors to recycle worn-out tuna fishing nets. The seafood firm, one of the co-founders of Seafood Business for Ocean...
Soaring Seafood Prices Keep European Demand For Meat High
Europeans still prefer beef steaks or pork schnitzels on their dinner plates compared to tuna or other seafood. Recent data indicate that expenditures on fishery and aquaculture products are...
Sufficient Skipjack Trade Pushes Up SKJ1.8:BKK
The price for skipjack in Bangkok has been pushed up amidst low demand from Thai canneries. The tuna price has bounced back to a higher level showing a slight movement in the market situation....
French Investors Interested In Building Tuna Cannery In Gabon
Gabon which has a tuna-rich EEZ is joining hands with the French employer federation -- Mouvement Des Entreprises De France (MEDEF), which will invest in fisheries, energy, digital,...
Europeans Increased Spending On Seafood In 2021 Amidst Inflation
European households spent more money buying seafood in 2021 compared to the year before, with Italians forking out the most euros, according to the latest EU statistics. In 2021, nominal...
Weak Yen Eats Into Japanese Seafood Firms’ Profits
Japanese seafood companies are feeling the impact of a weakening currency saying that their profits are being dragged down by high costs. Soaring fuel prices have affected bigeye fishing...
Maldives Tuna Export Collapsed In Q3
A new statistic from the Maldives Monetary Authority (MMA) showed a meager increase in tuna exports in Q3 this year which underlines the poor catches due to the monsoon season. But October did...
TU Maintains Position With Tony Lazazzara As ISSF New Chair
On December 1, ISSF announced the appointment of Tony Lazazzara as the Chair of its board of directors. Lazazzara is the Fish Procurement Director at Thai Union and succeeds Kevin Bixler,...